Brokerages Anticipate Caterpillar Inc. (NYSE:CAT) Will Announce Quarterly Sales of $14.31 Billion

Brokerages expect Caterpillar Inc. (NYSE:CATGet Rating) to post sales of $14.31 billion for the current quarter, according to Zacks. Eight analysts have issued estimates for Caterpillar’s earnings. The lowest sales estimate is $13.90 billion and the highest is $14.72 billion. Caterpillar posted sales of $12.89 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Caterpillar will report full-year sales of $57.28 billion for the current financial year, with estimates ranging from $56.23 billion to $58.62 billion. For the next fiscal year, analysts expect that the firm will post sales of $62.75 billion, with estimates ranging from $58.81 billion to $65.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Caterpillar.

Caterpillar (NYSE:CATGet Rating) last released its earnings results on Thursday, April 28th. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.28. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.49 billion. During the same quarter in the prior year, the firm earned $2.87 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Caterpillar in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Caterpillar from $250.00 to $240.00 in a research note on Friday, April 29th. Wells Fargo & Company started coverage on shares of Caterpillar in a research note on Friday, March 11th. They issued an “equal weight” rating and a $231.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $241.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, March 28th. Finally, Tigress Financial increased their price target on shares of Caterpillar from $278.00 to $282.00 and gave the stock a “buy” rating in a research note on Friday, May 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $242.53.

NYSE CAT opened at $223.67 on Friday. The company has a 50-day simple moving average of $216.05 and a two-hundred day simple moving average of $210.51. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48. Caterpillar has a 12-month low of $179.67 and a 12-month high of $237.90. The firm has a market cap of $119.30 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.50 and a beta of 0.94.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be paid a dividend of $1.20 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.11. The ex-dividend date is Tuesday, July 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.15%. Caterpillar’s payout ratio is 37.22%.

In other Caterpillar news, General Counsel Suzette M. Long sold 3,816 shares of Caterpillar stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $235.00, for a total value of $896,760.00. Following the sale, the general counsel now directly owns 10,549 shares in the company, valued at approximately $2,479,015. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Suzette M. Long sold 40,356 shares of Caterpillar stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $220.00, for a total transaction of $8,878,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,933 shares of company stock worth $11,541,376. 0.18% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CAT. Camden National Bank boosted its position in Caterpillar by 9.6% in the 4th quarter. Camden National Bank now owns 1,833 shares of the industrial products company’s stock valued at $333,000 after buying an additional 160 shares during the period. Morgan Stanley boosted its position in Caterpillar by 16.6% in the 2nd quarter. Morgan Stanley now owns 5,070,449 shares of the industrial products company’s stock valued at $1,103,482,000 after buying an additional 721,439 shares during the period. Keudell Morrison Wealth Management boosted its position in Caterpillar by 2.9% in the 3rd quarter. Keudell Morrison Wealth Management now owns 5,931 shares of the industrial products company’s stock valued at $1,139,000 after buying an additional 165 shares during the period. EagleClaw Capital Managment LLC boosted its position in Caterpillar by 1.1% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 14,488 shares of the industrial products company’s stock valued at $2,780,000 after buying an additional 163 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Caterpillar in the 3rd quarter valued at about $249,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Caterpillar Company Profile (Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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